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SENSEX dipped over 1,000 points last Friday and most stocks haven't recovered from the blow, but that did not stop IPL's media rights from being valued at a mind-boggling valuation of Rs 48,390 crores! From Rs 16,347.5 crores received from Star, 5 years ago, this is a 196% increment in value.
The e-auction held over the past 3 days was for the time period of 2023-2027. Disney Star managed to maintain the TV rights for the Indian subcontinent by paying Rs 23,575 crores or Rs 57.5 crores per game. The biggest winner of the auction this time was Reliance-backed Viacom 18.
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Viacom 18 won the Indian digital rights deal bid for a sum of Rs 20,500 crores. The fresh entrant also won the bid for 18 marquee non-exclusive matches for a winning bid of Rs 2,991.6 crores.
The ratio of TV: Digital was 75:25 in 2018 when Star had a monopoly on the sporting event's broadcast. This time, the digital space had a footprint of more than 51%. The overseas TV and Digital rights package was sold to Viacom 18 and Times Internet for a consideration of more than Rs 1,300 crores.
After this, the Indian Premier League has made its place in the ranks of top sporting properties such as the National Basketball Association, National Football League, the Super Bowl, FIFA World Cup, and Wrestlemania. According to BCCI Secretary Jay Shah, IPL is now the 2nd most valuable sporting event globally in terms of value per match.
Article by Aman Agarwal.
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